David Sismey, head of financial origination at JPMorganCazenove, has resigned to join Goldman Sachs. Sismey is one of the best known and most highly rated UK financial institutions originators and worked at JPMorgan for seven years under David Marks before moving into the US bank’s joint venture with UK broker Cazenove.
Sismey’s departure is a blow to JPMorgan’s FIG franchise. The UK is consistently the biggest revenue producer in European FIG. Sismey’s arrival from one of the strongest FIG businesses is a coup for Goldman, which lost its head of UK and northern European FIG, Shazia Azim, six months ago to Royal Bank of Scotland.
It is also a statement of intent in the financial institutions business by Goldman Sachs, which recently established a FIG hybrid capital team headed by Dominique Jooris and Jonny Fine.